Maersk Oil Announce Update on Al Shaheen long term development

Maersk Oil Announce Update on Al Shaheen long term development

Qatar Petroleum has initiated an evaluation process for the selection of a partner to undertake the future development of the Al Shaheen field, as the current agreement expires mid-2017.

Maersk Oil has been operator of the Al Shaheen field since 1992 and together with Qatar Petroleum successfully unlocked the potential of the field for more than 20 years producing approx. 300,000 bopd, some 40 percent of Qatar’s daily oil production.

“We have developed an unrivalled technical experience and understanding of this complex offshore field and have a robust plan to deliver future value from Al Shaheen,” says Jakob Thomasen, CEO of Maersk Oil and continues:

“We have known that we would be challenged on terms and conditions in connection with the 2017 extension and have been awaiting more information on how Qatar Petroleum wished to go about such a process. We look forward to this opportunity to continue our partnership with Qatar Petroleum, based on our long term commitment and detailed technical knowledge.”

Maersk Oil is unable to provide further details of the process at this point.

Source: Maersk Oil

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